Chapter 16: Statement of Cash Flow 1. PE 18.03 ALGO 2 PE1604 ALGO 3. EX 1805 ALGO EX 1808 ALGO Caws from Usef The income reported on the income statement for the current year was $222,100, Depreciation recorded on equipment and a sunding aniunted to $54,400 for the year Balances of the current asset and y accounts at the beginning and end of the year are a flows: Ch Account() End Beginning $60,190 $63,600 150,480 133,000 Pred 0.370 4,830 Accounts payable (merchandise creditors) 67.230 45,000 8,700 Prepare the Cash Flows from ed) Operating Activities section of the set of cash, using the indirect method se t Statement of Cash Flow (partial) Ounge le sue operating assets and b 0000000 Calf Flows from (Used for) Operating Activities The net income reported on the income statement for the current year was $222,100. Depreciation recorded on equipment and a building amounted to $65,000 for the year Balances of the current asset and current labiry accounts at the beginning and end of the year are as follows End of Year Beginning of Year Cash 160,190 $62,600 Accounts receivable (net) 76,320 77,250 Inventories 150,480 133,090 Prepaid expenses 8,370 8,830 Accounts payable (merchandise creditor) 67,230 69,60 9,000 8.700 Prepare the Cash Flows from (used for) Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative Statement of Cash Flows (partial) Cash Bows from (used for) operating activities Ailments to reconcile net income to net cash flows from (used for) operating activities Changes in current operating assets and labe 0 0 00000 Net cash flows from operating activities b. If the direct method had been used, would the net cash flow from operating activities have been the same)